Why did my home insurance go up $800 if I didn't file a claim?

I just got a policy renewal letter with my home insurance company. The rate went up around $800 per year, and I didn't even file a claim. What gives?

Answer
“Rates can go up for a variety of reasons. In your situation, this could mean that inflation or the cost to repair/rebuild your home has gone up exponentially. Booming home prices may also be to blame for the increased rate on your home insurance policy.
As states regulate insurance, there also could have been a state-wide increase.
With that said, you may want to ask your insurer if you can save money by adding a car insurance policy, as many insurers give you a discount for bundling. It’s worth a shot, and if they don’t want to lower the rate, start shopping elsewhere.
If you want to save yourself the hassle of searching for quotes, use Jerry. Jerry is your ultra-talented car insurance broker for life. No need to sit across from him at a desk—Jerry is an app! It takes less than a minute to sign up and you’ll be presented with competitive rates from up to 50 top providers.”
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Eric Schad
Answered on Aug 13, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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